What is Bit­coin?

Finweek English Edition - - MARKETPLACE BITCOIN -

Cur­ren­cies like Bit­coin, Ethereum, Rip­ple and Lite­coin are gen­er­ated by en­cryp­tion tech­niques and held elec­tron­i­cally, usu­ally in wal­lets, which have keys.

They are “mined” by peo­ple solv­ing maths prob­lems with com­put­ers.

You can buy Bitcoins from a Bit­coin ex­change, di­rectly from an­other per­son, or from a BTM.

You do not need to buy a whole Bit­coin. Bit­coin is not con­trolled by any com­pany or in­di­vid­ual.

It is an on­line pay­ment sys­tem and trans­ac­tions be­tween wal­lets are not linked to your bank ac­count or to where you live as it is an in­ter­na­tional currency. ■

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